StreamElements Closes $11.3M Series A Funding Round

StreamElements, a “full-stack” platform used by streamers to broadcast their gameplay, has closed an $11.3M USD funding round.

The platform offers features that automate production and monetization of gaming streams, in addition to providing technical support.

The company is forecasting growth of over $40M in revenue for its users, and has hired veteran Scott Clark to help build brand partnerships.

Livestreaming production platform StreamElements has closed its Series A funding round, raising a total of $11.3M for the three-year-old startup. The funding round is led by Pitango VC and joined by previous investors State of Mind Ventures, Rainfall VC, and Samsung Next, among others.

The StreamElements platform offers its users a variety of features that focus on three areas: production (such as overlays and chatbots), monetization, brand sales, and technical support. By automating these processes, StreamElements hopes to let creators “focus solely on streaming.”

“Since our launch 18 months ago, we proved that a full stack production and revenue generation platform is what live-streaming and esports really needs,” said CEO Doron Nir. “Creators are working hard, streaming for more than 40 hours a week. They don’t have the time to manage relationships with brands and scale their audience and community engagement on top of that commitment to their viewers. StreamElements is built just for that purpose: The best production toolset, a large variety of revenue streams, with legendary service and support.”

StreamElements claims hundreds of thousands of users, including several top streamers such as former Counter-Strike pro Michael “shroud” Grzesiek and top female Fortnite streamer “Loeya.” The company also claims to have raised over $15M for streamers in the form of tips from viewers, and an additional $1M for streamers from brand partnerships. In 2019, the company is forecasting creator revenue to top $40M.

To accommodate this growth, StreamElements hired brand partnership veteran Scott Clark as SVP, head of brand partnership. Clark comes from a 20-year career in digital media, most recently at video ad technology company Innovid. Clark added his reasons for moving into game streaming:

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“Brands are struggling to reach Millennials and Gen Z consumers through traditional advertising. This group represents major buying power and cultural authority, yet ad blocking is high, cable subscriptions are low, and media is extremely fragmented. Live streaming content, particularly in gaming and esports, is fast becoming their entertainment vehicle of choice. By partnering with live streamers and their communities, brands see tremendous value and impact, well beyond that of traditional digital media and influencer marketing.”